A fintech startup, Study263, operating from South Africa has recently launched an online store which offers the sales of food hampers which are sent directly to the buyer’s homes. This service is currently only available in Zimbabwe.
Study263
On the platform, users are allowed paying for their food hampers using any of the following methods: ZimSwitch Paypal, EcoCash and BTC. Currently, a minimum order of $90 is accepted on the platform. On the platform, users are allowed to buy a variety of food items ranging for sugar to salt.
Zimbabwe which plunged into one of the deepest hyperinflation ever witnessed, 10 years ago, is currently experiencing a shortage of foreign currency. This has resulted in the prices of imported goods going through the roofs.
According to a previous report, the 2008 hyperinflation has taught a lot of people a bitter lesson. As a result of this, the resident of the country has been stocking up. This has left several retail stores and supermarket’s shelves empty.
According to a local report, recently, there existed a short supply of fuel and some basic foodstuff became far priced above the normal market rate.
Words From the CEO
Based on a recent statement from Tinashe Jani, co-founder and chief operating officer of Study263, the idea came about two months ago, “when colleagues and family in Zimbabwe started complaining of a shortage of basic commodities as prices increased daily.”
During this period, food and fuel have become a rare commodity and those who had, were holding their supply.
This was also confirmed in a statement from Tinashe Jani, which states that:
“Our regular customers for sending money back home started hinting that the money they are sending isn’t buying much any more and that if only they could send groceries with someone they trust, ”
Jani also made it known that Study263 was founded in 2017.